Bridge Fund Managers sells its Private Clients and Stockbroking divisions to Sanlam Private Wealth

Bridge Fund Managers sells its Private Clients and Stockbroking divisions to Sanlam Private Wealth

Pursuant to the announcement on 22 August that Bridge Fund Managers (Pty) Limited (BFM) had entered into an agreement with Sanlam Private Wealth (Pty) Limited (SPW) for the sale of its Private Clients and Stockbroking divisions to SPW, this transaction has subsequently concluded and will become effective on 1 November 2018.

As part of the transaction, Mr Mark Logan, the current Chief Executive of BFM will be moving across to SPW on the effective date. In line with the BFM succession plan, Mr Paul Stewart will take over as Chief Executive of BFM from 1 November 2018.

In addition to this, Mr Ian Anderson, the Chief Investment Officer of BFM, will in due course be appointed as an Executive Director and Key Individual of BFM, subject to the regulatory processes being concluded. There will be no other changes to the board composition.

Mr Paul Stewart, says, “The conclusion of the SPW transaction will give BFM the necessary focus to continue the pleasing growth the business has enjoyed over the last six years and to invest in the business for the future. BFM will retain all of its Fund Management divisions’ key investment staff including Mr Ian Anderson, and his investment team who manage BFM’s highly successful Payers & Growers® investment strategy.”

Mr Stewart adds that existing clients of the Fund Management division of BFM, including Bridge Collective Investments (RF) (Pty) Limited, will be unaffected by this transaction and the business will continue to operate as normal without any disruption.

BFM manages its own range of strongly supported unit trust funds in the retail investment market and several institutional mandates for third-party clients. BFM has also recently launched a range of pre- and post-retirement products, that are proving to be very popular amongst financial advisors looking for a more cost-effective option for the retirement market.

Bridge Fund Managers (Pty) Limited